The stock of Medtronic Plc (NYSE:MDT) last traded at $83.57, down -0.97% from the previous session.
MDT stock price is now -2.38% away from the 50-day moving average and 1.85% away from the 200-day moving average. The market capitalization of the company currently stands at $110.97B.
With the price target of $90, Robert W. Baird recently initiated with Neutral rating for Medtronic Plc (NYSE: MDT). On June 30, 2023, CL King recently initiated its ‘Buy’ rating on the stock quoting a target price of $106, while ‘Morgan Stanley’ rates the stock as ‘Overweight’
In other news, Salmon Sean, EVP & President Cardiovascular sold 30,695 shares of the company’s stock on Feb 21 ’24. The stock was sold for $2,613,055 at an average price of $85.13. Upon completion of the transaction, the EVP & President Cardiovascular now directly owns 48,289 shares in the company, valued at $4.04 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 19 ’23, EVP & Pres Neuroscience Wall Brett A. sold 4,997 shares of the business’s stock. A total of $410,603 was realized by selling the stock at an average price of $82.17. This leaves the insider owning 28,910 shares of the company worth $2.42 million. A total of 0.07% of the company’s stock is owned by insiders.
During the past 12 months, Medtronic Plc has had a low of $68.84 and a high of $92.02. As of last week, the company has a debt-to-equity ratio of 0.49, a current ratio of 2.30, and a quick ratio of 1.71. According to the stock market information, the enterprise value for the company is $127.83B, which is based on a 26.51 price-to-earnings ratio, a 7.62 price-to-earnings-growth ratio, and a beta of 0.77. The fifty day moving average price for MDT is $85.61 and a two-hundred day moving average price translates $82.06 for the stock.
The latest earnings results from Medtronic Plc (NYSE: MDT) was released for Jan, 2024. According to the Medical Devices Company, earnings per share came in at $1.3, beating analysts’ expectations of $1.26 by 0.04. This compares to $0.92 EPS in the same period last year. The net profit margin was 13.00% and return on equity was 8.14% for MDT. The company reported revenue of $8.09 billion for the quarter, compared to $7.73 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 4.68 percent. For the current quarter, analysts expect MDT to generate $8.44B in revenue.
Medtronic Plc(MDT) Company Profile
Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software. It also provides aortic valves, surgical valve replacement and repair products, endovascular stent grafts and accessories, and transcatheter pulmonary valves; and percutaneous coronary intervention products, percutaneous angioplasty balloons, and products. The company’s Medical Surgical Portfolio segment offers surgical stapling devices, vessel sealing instruments, wound closure, electrosurgery products, surgical artificial intelligence and robotic-assisted surgery products, hernia mechanical devices, mesh implants, gynecology and lung products, and various therapies to treat diseases, as well as products in the fields of minimally invasive gastrointestinal and hepatologic diagnostics and therapies, patient monitoring, airway management and ventilation therapies, and renal disease. Its Neuroscience Portfolio segment offers products for spinal surgeons; neurosurgeons; neurologists; pain management specialists; anesthesiologists; orthopedic surgeons; urologists; urogynecologists; interventional radiologists; ear, nose, and throat specialists; and systems that incorporate energy surgical instruments. It also provides image-guided surgery and intra-operative imaging systems and robotic guidance systems used in robot assisted spine procedures; and therapies for vasculature in and around the brain. The company’s Diabetes Operating Unit segment offers insulin pumps and consumables, continuous glucose monitoring systems, smart insulin pen systems, and consumables and supplies. The company was founded in 1949 and is headquartered in Dublin, Ireland.
